This paper is a revision of an Invited Paper for the Australian Conference of Economists, Adelaide, 1-3 October 2002. The research on which the paper draws was funded by the Grape and Wine Research and Development Corporation, the Rural Industries Research and Development Corporation, and the...

Globalization is not new to the world's wine markets, but its influence over the past decade or so has increased dramatically. This paper reviews the effects of that on both the Old World and New World. In focusing retrospectively on the period since the late 1980s, it points to the dramatic...